This refers to the transfer of assets or service activities from public to private ownership or control and opening closed sectors only to the private sector.

Correct option is D

The correct answer is (d) Privatization
Explanation:
Privatization is an economic policy that involves shifting the ownership or management of government-run services and industries to private individuals or companies. This is often done to increase efficiency, reduce government spending, and encourage competition in the market.
Information Booster:
● Economic Reform: Privatization was a key component of the 1991 LPG (Liberalization, Privatization, and Globalization) reforms in India.
● Asset Transfer: It involves the sale of government shares (disinvestment) or the full handover of public enterprises to private hands.
● Efficiency: Proponents argue that private management leads to better innovation and service quality due to profit incentives.
● Educational Context: In education, privatization refers to the growth of self-financed private schools and universities alongside public ones.
● Sector Deregulation: It often involves removing government monopolies in sectors like telecommunications or aviation.
Additional Points:
● Option (a): Cross-border integration – Globalization refers to the integration of national economies into the world economy through trade.
● Option (b): Irrelevant term – Prevention is a general term and not a specific economic policy regarding asset ownership.
● Option (c): Policy relaxation – Liberalization refers to the removal of government restrictions and regulations on economic activities.

So the correct answer is (d)